Beech Hill Advisors’ Top Tech Picks Include The Future Alphabet Inc.

The next tech stock in the portfolio of Beech Hill Advisors is an $8.72 million stake in the equity of the most popular social network in the world – Facebook Inc (NASDAQ:FB). Over the second quarter of 2015, the investment firm cut its holdings in the stock by 6.58%, finishing the first half of the year with 101,646 shares. The equity price of Facebook Inc (NASDAQ:FB) has not disappointed investors this year, gaining 20.73%. The surge can partially be attributed to the company’s latest earnings report in which it posted earnings of $0.50 per share, exceeding the estimates by $0.03, while its revenue of $4.04 billion also beat the expectations by $50 million. Columbus Circle Investors, headed by Donald Chiboucis, held some 3.19 million shares of Facebook Inc (NASDAQ:FB) with a market value of $273.63 million as of June 30.

Lastly, we have come to one of the major stories of many articles and much debate over the last few days. Some of you already call it Alphabet Inc, but for many the company will continue to be known as Google, as it was for the past 18 years. Anyway, over the second quarter Paul Cantor and his colleagues reduced their ownership in Google Inc (NASDAQ:GOOGL)’s Class A shares by 3.37% to 11,597 shares valued at $6.26 million. Larry Page, who founded Google together with Sergey Brin, shared in his blog that the company’s reorganization into a holding company called Alphabet is a potential cure to becoming too comfortable. Of course, when you are leading a multibillion dollar company, you have to set aside your own interests and passion and think about the destinies of those whose lives are now affected by your decisions. Apparently, Brin and Page didn’t want to put up with that and instead left the core business of Google to be ruled by the talented Sundar Pichai, simultaneously creating for themselves a huge playground for future discoveries. Investors reacted positively to the news, as shares shot up by 5.6% within hours of the announcement. After the first six months of the year, Fisher Asset Management held 822,275 Class A shares of Google Inc (NASDAQ:GOOGL) worth $456.12 million.

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